Headwater is the new favourite to win the world's richest two-year-old race after dominating the Silver Slipper Stakes at Rosehill.

The TAB slashed the colt's price for the $3.5 million Golden Slipper from $11 to $4.60 immediately after Saturday's win.

With Blake Shinn aboard, Headwater ($2.45) jumped cleanly and went straight to the front where he controlled the race before coasting to a 2-1/4 length win over Voilier ($8).

Brisbane visitor Mishani Honcho ($26) came from last of the seven runners to run another two lengths third.

The Hawkes family partnership celebrated victory in last year's Slipper with Mossfun and co-trainer Michael Hawkes said Headwater was the ideal type for the high-pressure race.

"He is a star on the rise," Hawkes said.

"He had an easy run and did everything right.

"I told Blake Shinn not to panic and have him where he was comfortable.

"Leading wasn't ideal but it didn't matter and Blake rated him perfectly."

Headwater deposed Vancouver as the Golden Slipper favourite with that colt scratched from Saturday's race to run next week.

Hawkes said he was not certain whether Headwater would race again before the Golden Slipper on March 21.

"It's 50-50 whether he runs in two weeks or whether he has a trial," he said.

"There is no rush to decide. Four weeks is a long time with two-year-olds and we will just take it one step at a time."

Shinn said Headwater was a true professional.

"He did everything I asked," he said.

"It was all there to be seen."

Neither Voilier nor Mishani Honcho are nominated for the Slipper and their owners would need to pay $150,000 to run.

But their respective trainers Gary Nickson and Les Ross are now looking to the Sires' Produce Stakes.

"I was pleased with how Voilier toughed it out but he was never going to beat the winner," Nickson said.

"I think he will probably head to the Sires'."

Ross said he was happy with Mishani Honcho and the Todman Stakes would decide the rest of his autumn.